Which of these is not a limitation of financial statements? a. Qualitative data are not reflected in

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Which of these is not a limitation of financial statements?

a. Qualitative data are not reflected in financial statements.

b. Market values of assets are not generally reported.

c. Estimates are commonly used and are sometimes inaccurate.

d. It may be difficult to compare firms in the same industry because they often use different accounting methods.

e. All of the above are limitations of financial statements.

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Accounting What The Numbers Mean

ISBN: 9780073379418

8th Edition

Authors: David Marshall, Wayne McManus, Daniel Viele

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